Obermeyer Wealth Partners Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Obermeyer Wealth Partners bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,112 shares of the semiconductor manufacturer's stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Greenline Partners LLC acquired a new position in Advanced Micro Devices during the 4th quarter valued at $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Advanced Micro Devices by 277.8% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC raised its holdings in Advanced Micro Devices by 90.3% in the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares in the last quarter. Kozak & Associates Inc. raised its holdings in Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 123 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new position in Advanced Micro Devices in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $155.03, for a total value of $2,790,229.94. Following the sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Trading Up 2.7%

Shares of AMD stock traded up $4.35 during trading hours on Friday, reaching $166.47. The company had a trading volume of 53,186,893 shares, compared to its average volume of 46,238,572. The company has a 50 day moving average of $132.24 and a 200 day moving average of $114.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a market cap of $269.91 billion, a price-to-earnings ratio of 122.40, a P/E/G ratio of 2.20 and a beta of 2.05. Advanced Micro Devices, Inc. has a 1-year low of $76.48 and a 1-year high of $174.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. Advanced Micro Devices's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Advanced Micro Devices announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMD. Melius raised Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $175.00 target price for the company in a research report on Monday, June 23rd. Morgan Stanley reduced their target price on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group raised Advanced Micro Devices to a "hold" rating and set a $140.00 target price for the company in a research report on Thursday, July 10th. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $120.00 target price (up from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, Advanced Micro Devices currently has an average rating of "Moderate Buy" and an average price target of $154.68.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.